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Troubled electric vehicle startup Faraday Future\u2019s board of directors has appointed founder Jia Yueting as the company\u2019s co-CEO, three years after he was sidelined following an internal probe<\/a> into allegations of fraud \u2014 a probe that led to a investigation by the Securities and Exchange Commission that remains ongoing.<\/p>\n Jia will serve alongside current CEO Matthias Aydt and will oversee Faraday\u2019s finance, legal, and supply chain teams, the company announced<\/a> in a press conference Thursday. Aydt is a longtime Faraday Future employee who was once placed on probation after he offered to pay a Faraday Future board member<\/a> up to $700,000 to resign in the middle of a months-long power struggle over the company<\/a>.<\/p>\n Jia\u2019s appointment comes just one month after Faraday Future named Jia\u2019s nephew Jerry Wang as president of the EV startup<\/a>. Wang resigned in 2022 as a result of the internal probe because of a \u201cfailure to cooperate with the investigation\u201d according to filings<\/a> with the Securities and Exchange Commission. <\/p>\n Faraday Future was founded by Jia in 2014 as he looked to build on what was at the time a successful electronics and media streaming empire in China. <\/p>\n That empire collapsed, and Jia self-exiled to the U.S. to focus on Faraday Future. The company has spent the last decade and over $3 billion to develop an ultra-luxury EV called the FF91. But it has only sold around a dozen of them to date, and has been accused in lawsuits of misrepresenting some of those sales<\/a>.<\/p>\n<\/div>\n